Middle-income U.S. family spends $235,000 to raise baby
WASHINGTON (AP) — For $235,000, you could indulge in a shiny new Ferrari — or raise a child for 17 years.
A government report released Thursday found that a middle-income family with a child born last year will spend about that much in child-related expenses from birth through age 17. That’s a 3.5 percent increase from 2010.
The report from the Agriculture Department’s Center for Nutrition Policy and Promotion said housing is the single largest expense, averaging about $70,500, or 30 percent of the total cost.
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